Teacher Retirement System of Texas Invests $693,000 in Bio-Rad Laboratories, Inc. (NYSE:BIO)

Teacher Retirement System of Texas bought a new stake in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 2,847 shares of the medical research company's stock, valued at approximately $693,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. GeoWealth Management LLC increased its position in Bio-Rad Laboratories by 342.9% in the fourth quarter. GeoWealth Management LLC now owns 93 shares of the medical research company's stock worth $31,000 after buying an additional 72 shares during the period. Picton Mahoney Asset Management lifted its holdings in shares of Bio-Rad Laboratories by 55.6% in the fourth quarter. Picton Mahoney Asset Management now owns 98 shares of the medical research company's stock valued at $32,000 after buying an additional 35 shares during the period. Curat Global LLC bought a new position in shares of Bio-Rad Laboratories during the 1st quarter valued at about $34,000. Brown Brothers Harriman & Co. grew its position in Bio-Rad Laboratories by 2,928.6% in the fourth quarter. Brown Brothers Harriman & Co. now owns 212 shares of the medical research company's stock worth $70,000 after buying an additional 205 shares during the last quarter. Finally, Headlands Technologies LLC acquired a new stake in shares of Bio-Rad Laboratories during the fourth quarter worth $71,000. Institutional investors own 65.24% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. Wall Street Zen downgraded shares of Bio-Rad Laboratories from a "buy" rating to a "hold" rating in a research note on Sunday. Wells Fargo & Company decreased their price target on shares of Bio-Rad Laboratories from $260.00 to $245.00 and set an "equal weight" rating on the stock in a research report on Monday, June 9th. UBS Group dropped their price objective on shares of Bio-Rad Laboratories from $355.00 to $310.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. Royal Bank Of Canada reduced their target price on shares of Bio-Rad Laboratories from $409.00 to $392.00 and set an "outperform" rating for the company in a research note on Friday, May 2nd. Finally, Citigroup lowered their price target on Bio-Rad Laboratories from $400.00 to $350.00 and set a "buy" rating on the stock in a research note on Friday, May 2nd. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $324.25.

Bio-Rad Laboratories Price Performance

NYSE BIO traded up $2.91 on Thursday, reaching $250.17. The company's stock had a trading volume of 61,252 shares, compared to its average volume of 332,057. The company has a current ratio of 5.99, a quick ratio of 4.43 and a debt-to-equity ratio of 0.18. The firm has a market cap of $6.81 billion, a PE ratio of -3.28 and a beta of 0.95. Bio-Rad Laboratories, Inc. has a 52 week low of $211.43 and a 52 week high of $387.99. The business has a 50-day moving average price of $237.97 and a 200 day moving average price of $267.88.

Bio-Rad Laboratories (NYSE:BIO - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The medical research company reported $2.54 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.73 by $0.81. Bio-Rad Laboratories had a positive return on equity of 4.32% and a negative net margin of 85.16%. The company had revenue of $585.40 million during the quarter, compared to analysts' expectations of $573.01 million. During the same period last year, the business earned $2.30 earnings per share. The business's revenue was down 4.2% on a year-over-year basis. Sell-side analysts expect that Bio-Rad Laboratories, Inc. will post 10.81 EPS for the current year.

Bio-Rad Laboratories Company Profile

Bio-Rad Laboratories, Inc manufactures and distributes life science research and clinical diagnostic products in the United States, Europe, Asia, Canada, and Latin America. It operates through two segments, Life Science and Clinical Diagnostics. The company develops, manufactures, and markets instruments, systems, reagents, and consumables to separate, purify, characterize, and quantitate biological materials such as cells, proteins, and nucleic acids for proteomics, genomics, biopharmaceutical production, cellular biology, and food safety markets.